LEMBEKE, BELGIUM and SAN FRANCISCO, CA—(Marketwired – Sep 29, 2016) – In February 2016, Lotus Bakeries announced that the sales of Lotus Biscoff, a uniquely flavored caramelized cookie, were growing quickly in the United States. To support this growth, Lotus Bakeries decided to build another production hall in Belgium and moreover invest in an entirely new Lotus Biscoff manufacturing facility in the United States. In this facility Lotus Bakeries will bake, for the first time in the U.S., the unique Lotus Biscoff cookie, which has only been baked in Lembeke, Belgium for the past 84 years.

Today, Lotus Bakeries announced that it is considering Mebane, North Carolina, as the location for the U.S. Lotus Biscoff manufacturing facility. The conversations with the local authorities on this investment project are in a well advanced stage. The construction of the facility would start in the first half of 2017, and become operational in 2019.

“Having a Lotus Biscoff plant in the United States is a milestone for our company. For the first time since our foundation in 1932, Lotus Biscoff will be produced outside of Lembeke, Belgium. Lotus Bakeries and all its employees are extremely proud of this expansion in the world's largest consumer market,” says Jan Boone, CEO of Lotus Bakeries.

Lotus Bakeries in a nutshell

Lotus Bakeries is active worldwide in the indulgent and healthy snacking segment with the Lotus, Lotus Biscoff, Lotus Dinosaurus, Lotus Suzy, Peijnenburg, Snelle Jelle, Annas, Nākd, Trek, BEAR and Urban Fruit brands. Lotus Bakeries, with headquarters in Belgium, is a dynamic, internationally oriented company with manufacturing facilities in Belgium, the Netherlands, France and Sweden, and 17 company owned sales organizations in Europe, America and Asia. Lotus Bakeries also works with commercial partners in forty countries worldwide. Lotus Bakeries has approximately 1,350 employees. By maintaining a healthy balance between tradition and innovation, the Lotus brand indulges consumers with a unique range of high–quality, tasty products. With Peijnenburg and Snelle Jelle, the company is a market leader in gingerbread in the Netherlands. Under the Nākd, Trek, BEAR and Urban Fruit brands, Lotus Bakeries offers tasty snacks, manufactured from all–natural, unprocessed ingredients, with no added sugar. In 2015, the Group achieved sales of EUR 411.6 million. The shares of Lotus Bakeries are listed on the Euronext Brussels stock market.

TORONTO, ON—(Marketwired – September 29, 2016) – Gran Colombia Gold Corp. (the “Company”) (TSX: GCM)(OTC PINK: TPRFF) announced today that the civil situation in Segovia and Remedios in the Department of Antioquia, Colombia, has come to a peaceful conclusion following extensive discussions between representatives of the national and regional governments, the Company and the local mining collective that instigated the civil strike last week which impeded the Company's workers from safely reporting to work. To resolve the situation, the parties agreed to create a Mesa Institucional, a roundtable with representatives from all parties, to analyze and propose solutions to improve social and economic matters in Segovia and Remedios. In addition, the Company will continue its negotiations with each of the illegal mines located within the Company's mining title at its Segovia Operations to enter into contractual relations similar to those it has with 41 other mining cooperatives working within its mining title. The first set of negotiations, supported by USAID and/or the government of Antioquia acting as moderator, will commence in the second week of October with representatives of the Cogote mine.

Commenting on the news, Lombardo Paredes, Chief Executive Officer of the Company said “we are pleased to see this civil unrest come to an end. We appreciate the support we have received from the various levels of government and from our employees who remained at the mine site during the past 10 days to provide essential support in our mines, the plant and the camp to enable us to return to normal operations today. We believe that our contract mining model, under which more than 2,500 miners in Segovia and Remedios are currently working with the Company, is fully aligned with the requirements of the mining regulations in Colombia, including health and safety, environmental management, tax and royalty obligations, and is beneficial to the historical mining communities in which we operate.”

The impact of this disruption on Company's production in September is still being fully assessed but is not expected have a significant effect on the Company's total production for the year.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian–based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is currently advancing a project to develop a modern, large–scale, gold and silver mine at its Segovia operations.

This news release contains “forward–looking information”, which may include, but is not limited to, potential strategies for the Company's future. Often, but not always, forward–looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward–looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward–looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward–looking statements are described under the caption “Risk Factors” in the Company's Annual Information Form dated as of March 30, 2016, which is available for view on SEDAR at www.sedar.com. Forward–looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward–looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward–looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward–looking statements.